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it has been a fun fun play. While it has been over all rough for the nation, economic decline creates great stock opportunity's.....
other happiness from march forward...RAD, ROC! and BAC
BOY! I SURE PLAYED THIS ONE WRONG, WITH ONLY 50% PROFIT!
CONGRATS TO ALL THAT BOUGHT LOW AND ARE STILL HOLDING!
The resent 8K and 10Q is a wealth of information: http://www.pinksheets.com/pink/quote/quote.jsp?symbol=arm#getFilings
Q3 Adj EPS (39c) vs 66c Misses (33c) Est; Guidance Comments
Tuesday , August 04, 2009 08:49ET
QUARTER RESULTS
ArvinMeritor Incorporated (ARM) reported Q3 results ended June 2009. Q3 Revenues were $993.00M; -47.10% vs yr-ago; MISSING revenue consensus by -13.42%. Q3 EPS was ($2.23). Adjusted Q3 EPS was (39c); -159.09% vs yr-ago; MISSING earnings consensus by -18.18%.
Q3 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISEGUIDANCE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $993.00M $1,877.00M -47.10% $1,146.94M -13.42%
---------- ------------ ------------ ---------- ------------ ----------
EPS: ($2.23) N/A N/A N/A N/A
Adj EPS: (39c) 66c -159.09% (33c) -18.18%
---------- ------------ ------------ ---------- ------------ ----------
Yeppers Stock Amo, been a nice couple of days.
Per FINVIZ’s auto tech chart this ARM also looks to be elbowing it’s way above resistance at the moment.
Very interesting news. Friday was another good day. Thank you Scovillez for keeping the info flowing. Some day we may even have a board beyond the 5 bookmarks.
Navistar, ArvinMeritor Announce Long-Term Supply Agreement
Thursday , July 23, 2009 08:00ET
WARRENVILLE, Ill., Jul 23, 2009 (BUSINESS WIRE) -- Navistar (NYSE: NAV) and ArvinMeritor, Inc. (NYSE: ARM) today announced that under the terms of a new long-term supply agreement, Meritor axles are now in standard position on International(R) medium-duty trucks and IC Bus(TM) brand school and commercial buses. Also under the terms of the agreement, ArvinMeritor gains additional standard axle positions on International's heavy-duty trucks. Terms of the agreement were not disclosed.
"In working with ArvinMeritor, we've selected a premier axle-brake supplier -- one which has been our standard Class 8 axle-brake supplier for more than 10 years," said Jack Allen, president of Navistar's North American Truck Group. "We're confident that our customers will be extremely pleased with the performance of the Meritor axle. Our customers can feel comfortable relying on Meritor for drivetrain specification assistance, rapid response to troubleshooting and quality after-the-sale support."
"This agreement represents a natural extension of the long-standing relationship between Navistar and ArvinMeritor," added Allen. "Both companies have aligned business goals focused on satisfying the end-user with quality products that exceed customer expectations. In addition, ArvinMeritor is uniquely positioned to support Navistar's aggressive growth strategy as it expands globally into new markets with a strong product portfolio."
"We are pleased to have the opportunity to expand our relationship with Navistar," said Carsten Reinhardt, president of ArvinMeritor's Commercial Vehicle Systems business. "With this new agreement, we are looking forward to supplying Navistar with the most reliable and technically advanced axles on the market today and will work hard to meet the expectations of Navistar's dealers and their customers."
Effective July 13, 2009, Meritor axles will now be standard equipment on International medium-duty trucks and IC Bus school buses and medium-duty trucks, in addition to Class 8 trucks.
ArvinMeritor will continue as Navistar's supplier on its portfolio of military applications for programs including Mine Resistant Ambush Protected (MRAP) vehicles, Tactical Support Vehicles (TSV), Military Commercial Off the Shelf (MilCOTS) -- the first element of Canada's Medium Support Vehicle System (MSVS) -- and Foreign Military Sales (FMS) through the U.S. military's Tank-automotive and Armaments Command (TACOM).
ArvinMeritor Signs Strategic Partnership with Yutong Group Co., Ltd. to Supply Drivetrain Components in China
SHANGHAI, July 20, 2009 /PRNewswire-FirstCall via COMTEX/ -- ArvinMeritor, Inc. (NYSE: ARM) announced today that it has signed a strategic partnership with Yutong Group Co., Ltd. to supply drivetrain components for buses and coaches in China.
"We are proud to partner with Yutong, the largest producer of high-end buses and coaches in the China market," said Tim Bowes, vice president and managing director of Asia Pacific for ArvinMeritor. "We believe this new business will strengthen the existing partnership we have with Yutong, as well as expand ArvinMeritor's presence in Asia."
In addition to supplying premium non-drive and drive axles to Yutong, ArvinMeritor will now manufacture differential carriers and brake calipers at its facility in Wuxi, China, for application on Yutong's axles. The final product will be assembled at Yutong's plant in Zhenzhou, China. Production is expected to begin at the end of 2009. "We will build the carriers and air disc brakes in our Wuxi plant utilizing local suppliers," said Bowes. "We plan to continue to demonstrate our commitment to the China market by localizing the manufacturing of our products to meet the needs of our domestic customers."
As part of this partnership, ArvinMeritor and Yutong will also sell and distribute standard aftermarket service kits for its products.
About ArvinMeritor
ArvinMeritor, Inc. is a premier global supplier of a broad range of integrated systems, modules and components to the motor vehicle industry. The company marks its centennial anniversary in 2009, celebrating a long history of 'forward thinking.' The company serves commercial truck, trailer and specialty original equipment manufacturers and certain aftermarkets, and light vehicle manufacturers. ArvinMeritor common stock is traded on the New York Stock Exchange under the ticker symbol ARM. For more information, visit the company's Web site at: http://www.arvinmeritor.com/.
Even with little to no one watching ARM on Ihub, It has been a great up / down play
Analysts coverage:
http://phx.corporate-ir.net/phoenix.zhtml?c=122961&p=irol-analysts
Firm Analyst Phone E-Mail
Barclays Brian Johnson 212-526-5627 brian.johnson@lehman.com
Goldman Sachs Patrick Archambault 212-902-2817 patrick.archambault@gs.com
J.P. Morgan Himanshu Patel 212-622-3906 himanshu.patel@jpmorgan.com
KeyBanc Capital Markets Brett Hoselton 216-443-3809 bhoselton@keybanccm.com
Merrill Lynch John Murphy 212-449-7045 john_murphy@ml.com
Robert W. Baird & Company, Inc. David Leiker 414-298-7535 dleiker@rwbaird.com
UBS Investment Bank 212-713-9949
ArvinMeritor, Inc. is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding ArvinMeritor, Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of ArvinMeritor, Inc. or its management. ArvinMeritor, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.
Job openings at ARM :
http://arvinmeritor.hodesiq.com/joblist.asp
Career Opportunities at ArvinMeritor for Experienced Professionals
A total of 5 jobs were found
Job Title Location
Supplier Development Specialist/Leader Troy, MI
Product Manager, Air Systems Florence, KY
Sr. Quality Engineer Hebron, KY
District Sales Manager - Western Region Phoenix, AZ
Sr. Tax Analyst Troy, MI
Displaying records 1 through 5
Also of interest. The O/S appears to have decreased:
From 10-K/A today
73,960,446 shares of the registrant’s Common Stock, par value $1 per share, were outstanding on May 31, 2009.
from 10-Q Feb 9th 2009
73,973,797 shares of Common Stock, $1.00 par value, of ArvinMeritor, Inc. were outstanding on December 28, 2008.
Scovillez. Good job keeping the info coming. Filing 10-K/A was released today. Full of information:
http://pinksheets.com/edgar/GetFilingHtml?FilingID=6677972
Divests Additional Light Vehicle Systems Chassis Business
Monday , June 29, 2009 13:53ET
Sells Gabriel Ride Control Products North America Business to OpenGate Capital
TROY, Mich., June 29 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE: ARM) today announced that it has reached agreement to divest another one of its light vehicle Chassis businesses, bringing the total number of units divested this year to three. The company reached a definitive agreement to sell its Gabriel Ride Control Products North America ("Chassis Ride Control") business to OpenGate Capital, a private equity firm.
The company noted that the sale of the U.S. portion of Gabriel Ride Control Products North America has been completed. The closing of the transaction for the subsidiary in Mexico will be completed once the license agreements and pending permits have been finalized, which the company expects will occur within two months. During the time that final approvals are in process, the business will continue to serve its customers and operate as usual.
The sale of ArvinMeritor's Gabriel Ride Control Products North America business, along with the divestitures of Meritor Suspension Systems Company ("MSSC") and Gabriel de Venezuela that were announced last week, largely complete the divestiture of Chassis Systems.
Chairman, CEO and President Chip McClure said, "The sale of another one of our Chassis businesses is further evidence that we are able to execute our strategy to refocus the company on the commercial vehicle business even in a difficult environment. Selling the Gabriel Ride Control Products North America business, combined with the divestitures of MSSC and Gabriel de Venezuela, better positions us to achieve our long-term strategic objective to concentrate on the commercial vehicle on- and off-highway market segments for both original equipment manufacturers and aftermarket customers."
With the sale of Gabriel Ride Control Products North America, the company has now divested 87 percent of its Chassis operations based on 2008 value-added sales (72 percent of total sales, including $117 million of pass-through sales).
http://www.knobias.com/story.htm?eid=3.1.dc9a55fd63472e5f7c22ec41a9471b93d11dd59752e2708da2ada16c0d923eb1
ARM Divests Stake in 2 Light Vehicle Systems Chassis Businesses
Wednesday, June 24, 2009 21:00ET
TROY, Mich., Jun. 24 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE: ARM) today announced that it has reached agreements to divest its entire ownership stakes in two joint ventures in its light vehicle Chassis business. Together, these transactions will result in the divestiture of 45 percent of the Chassis Systems business (as measured by 2008 sales).
The company entered into a binding letter of intent to sell its 57 percent stake in Meritor Suspension Systems Company ("MSSC"), a joint venture that manufactures and sells automotive coil springs, torsion bars and stabilizer bars in North America, to its joint venture partner, a subsidiary of Mitsubishi Steel Mfg. Co., LTD (MSM). The transaction is expected to close in the coming months, after receiving necessary regulatory clearances.
ArvinMeritor also announced that, earlier this month, it completed the sale of its 51 percent stake in Gabriel de Venezuela, which manufactures shock absorbers, struts, exhaust systems and suspension modules for countries including Venezuela, Colombia, Chile, Bolivia, Peru and Ecuador.
"We are pleased to announce these two divestitures, which represent important steps toward achieving our long-term strategic objective to focus on supplying the commercial vehicle on- and off-highway markets for both original equipment manufacturers and aftermarket customers," said Chip McClure, chairman, CEO and president. "Our joint venture partners are strong companies and I am confident that they will focus on growing these businesses. We continue to concentrate on divesting the light vehicle Chassis business, and we are pleased with the high level of interest we are continuing to see from potential buyers in the remaining segments of that business."
8-K ~ http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6391925
Barclays Ups to Overweight from Equal-weight
Friday , June 19, 2009 08:17ET
Issuer: ArvinMeritor Incorporated (NYSE: ARM)
Analyst Firm: Lehman Brothers Holdings Inc.
Ratings Action: UPGRADE
Current Rating: Overweight (from Equal-weight)
This rating information was reported by TheFlyOnTheWall.
http://www.knobias.com/story.htm?eid=3.1.d60aa41238d3fae15df40b8915746d46d3d46b802d512db34f08e74b124b9ea1
A good run....we are just starting. With some good momentum ARM is working it's way up to bust through the 200ema. Upgrade: Overweight from Equalweight.......by Barclays
In @ 5,000 shares.....
Goldman Sachs Ups to Buy from Neutral; Analyst Notes
Thursday , June 18, 2009 08:31ET
Issuer: ArvinMeritor Incorporated (NYSE: ARM)
Analyst Firm: Goldman Sachs & Co.
Ratings Action: UPGRADE
Current Rating: Buy (from Neutral)
Analyst Comments: Goldman upgraded the Automobiles sector and upgraded ArvinMeritor (ARM) to Buy from Neutral.
This rating information was reported by TheFlyOnTheWall.... http://www.theflyonthewall.com/permalinks/entry.php/ARMid1099610
http://www.knobias.com/story.htm?eid=3.1.1a2cd83bdc3884d5127e5e7019f9365f9e02d311d044dfe47ab1d730f057c6d9
ARM Regains Compliance w/NYSE's Listing Standards
Wednesday, June 03, 2009 12:00ET
TROY, Mich., June 3 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE: ARM) today announced that on June 1, 2009, the company was notified by the New York Stock Exchange, Inc. ("NYSE") that, based upon modified listing standards adopted by the NYSE, it has regained compliance with the NYSE's continued listing standards.
As previously disclosed, the company was notified by the NYSE in March 2009 that it had fallen below the continued listing standard requiring the average market capitalization of a listed company to be not less than $75 million over a consecutive 30 trading-day period when, at the same time, total stockholders' equity is less than $75 million.
The NYSE's continued listing standard, as modified under a pilot program effective through Oct. 31, 2009, lowered the required threshold from $75 million to $50 million. Accordingly, the company is currently in compliance with the NYSE's continued listing requirement that pertains to market capitalization and stockholders' equity. The NYSE has stated that it anticipates a subsequent rule filing prior to Oct. 31, 2009 to make this change a permanent continued listing standard.
...8-K ~ http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6362367
Whatchu Talk’en Bout Willis? ;o)
BarCharts ... "Opinion"... http://quote.barchart.com/texpert.asp?sym=ARM
Composite Indicator
Trend Spotter TM Buy
Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Buy
20 Day Bollinger Bands Hold
Short Term Indicators Average: 80% - Buy
20-Day Average Volume - 2258082
Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Buy
50 Day Parabolic Time/Price Sell
Medium Term Indicators Average: 50% - Buy
50-Day Average Volume - 1593357
Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 100% - Buy
100-Day Average Volume - 1692449
Overall Average: 80% - Buy
Price Support Pivot Point Resistance
3.16 2.34 2.99 3.64
ArvinMeritor Earns State and National Recognition for Supporting Employees in the Military
Friday , May 29, 2009 07:30ET
Company Selected for Michigan 'Pro Patria' Award; Nominated for National 'Employer Support Freedom Award'
TROY, Mich., May 29 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE: ARM) has earned the highest level award in Michigan for providing exceptional support to its employees who serve in the U.S. military and is in contention for a similar national award from the U.S. Secretary of Defense.
The Michigan Committee for Employer Support of the Guard and Reserve (ESGR) will present ArvinMeritor with the Pro Patria award for providing exceptional support to its Guard and Reserve employees on May 30 at the regional awards dinner in Grand Blanc, Mich. The group selected ArvinMeritor over 26 other Michigan nominees in the large business category. It also nominated the company to represent Michigan in the national competition for the prestigious Secretary of Defense Employer Support Freedom Award.
"We're pleased the committee has recognized ArvinMeritor's efforts to support our employees who serve in the military. The real honors, however, should go directly to those brave and loyal service members who put themselves at risk day after day for our country," said Chip McClure, chairman, CEO and president. "ArvinMeritor is proud of its long history of supporting our men and women in uniform, but we don't view it as simply an obligation. We believe it's not only the right thing to do, but it's a rewarding way to sustain and encourage them while they're serving, and to welcome them back and thank them for their service when they return."
McClure, a former naval officer, makes a point to stay in touch with the company's service members to remind them that their fellow employees appreciate the sacrifices they and their families are making.
ArvinMeritor's military leave program includes:
-- Paying the difference between military pay and the employee's base
salary so that the employee's family can maintain their current
standard of living.
-- Employees receiving pay differential continue to earn savings plan
benefits.
-- Employees on military leave can elect to maintain their company benefits
package while on leave.
-- Vacation accruals continue while on military leave.
-- Over the last five years, 74 employees have taken one period of military
leave - forty-one of those employees received pay differential from the
company.
"The Pro Patria award acknowledges ArvinMeritor's high level of support for their employees who serve in the Guard and Reserve," said Capt. Paul J. Ryan, chair of the Michigan ESGR Committee. "ArvinMeritor symbolizes the devotion of many Michigan companies to members of the military."
At the award ceremony, McClure will accept the Pro Patria award on behalf of ArvinMeritor along with Jim Babbitt, the employee who nominated the company for the award. Babbitt recently served in the Army National Guard deployed to Iraq, returning last November.
The final selection for the Secretary of Defense Employer Support Freedom Award will be announced in late June or early July 2009.
ArvinMeritor is a supplier of drivetrain components for U.S. military fleets around the world. The company has more than 525 employees in the United States dedicated to designing, testing and manufacturing drivetrain components for the U.S. Army's Medium Tactical Vehicles (FMTV) and Mine Resistant Ambush Protected Vehicles (MRAP). ArvinMeritor also is designing and developing drivetrain technology for future military programs, including the Joint Light Tactical Vehicle (JLTV), Medium All-Terrain Vehicle (M-ATV) and the Marine Personnel Carrier (MPC).
ARM: JP Morgan Ups to Neutral from Underweight
Wednesday, May 06, 2009 08:15ET
Issuer: ArvinMeritor Incorporated (NYSE: ARM)
Analyst Firm: JP Morgan
Ratings Action: UPGRADE
Current Rating: Neutral (from Underweight)
This rating information was reported by TheFlyOnTheWall.
http://www.knobias.com/story.htm?eid=3.1.c49b0fcb169291d54df1afb33ad90d31d000283c40b0d48ef562ad8bc4be6b4e
Thanks. Could have been more had I held- that's what I get for NOT being greedy! LOL!
Hope a buying op comes along, though.
Kudos!! Good for you…50%
I wish I had held, but I got gun shy with GM and Chrysler problems. Oh well, still gained %50. Could have been 100.......
I thought so. Still do.
Nothing over the top ...just a gathering.
Need more volume, more.... faith. After-hours is up but no volume to speak of.
http://www.nasdaq.com/aspxcontent/ExtendedTradingTrades.aspx?selected=ARM&mkttype=after
Jury is still out?
GLTA!!
Scov
I guess it was safe to take a position here lol....
Better days are yet to come.
Dino
Q2 Adj EPS (12c) vs 37c Beats (68c) Est; Guidance Comments
Tuesday , May 05, 2009 16:21ET
QUARTER RESULTS
ArvinMeritor Incorporated (ARM) reported Q2 results ended March 2009. Q2 Revenues were $1,110.00M; -37.68% vs yr-ago; MISSING revenue consensus by -10.78%. Q2 EPS was (65c). Adjusted Q2 EPS was (12c); -132.43% vs yr-ago; BEATING earnings consensus by +82.35%.
Q2 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISEGUIDANCE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $1,110.00M $1,781.00M -37.68% $1,244.06M -10.78%
---------- ------------ ------------ ---------- ------------ ----------
EPS: (65c) N/A N/A N/A N/A
Adj EPS: (12c) 37c -132.43% (68c) +82.35%
---------- ------------ ------------ ---------- ------------ ----------
Sold out until the dust settles with Chrysler. I'm not sure how or if this will be affected, but took profit just in case.
GM seeks provision for its suppliers
By Julie MacIntosh in New York
Published: April 16 2009 23:32 | Last updated: April 16 2009 23:32
General Motors is prepared to argue that hundreds of its suppliers are “critical vendors” who require timely payments if it seeks bankruptcy protection, setting the stage for what would be the most sweeping attempt ever to win special treatment for such contractors, people close to the matter say.
Companies often request special treatment for a limited number of suppliers as part of bankruptcy petitions.
EDITOR’S CHOICE
In depth: Detroit in distress - Feb-16Saab opens its doors to potential buyers - Apr-16Car parts groups prepare to request more aid - Apr-14Interactive: Global automotive bail-outs - Feb-18GM in talks to sell Saturn brand - Apr-16Bankruptcy experts say GM would stand a good chance of winning protection for more suppliers than is usual because of the large number that provide “just-in-time” car parts to the company.
“On its face, the justification for critical trade appears very strong here, as strong if not stronger than in most other cases,” said James Sprayregen, a bankruptcy partner at Kirkland & Ellis. “It’s hard to see how it’s going to be in anybody’s interest to shut the supply chain down.”
In recent months, GM has raised questions about whether a bankruptcy filing would create more problems than it would solve.
It has argued that a slowdown in payments to its vendors could prompt them to withhold supplies or go bankrupt themselves, creating turmoil across the US industrial sector.
By seeking permission to pay hundreds of suppliers, GM could mitigate damage to the car parts industry.
People close to GM say the company would make the request regardless of where it filed its bankruptcy petition. Company insiders say the most likely venues would be Detroit, New York or Delaware.
“No matter what court they go into, they’ll get authority to pay whatever suppliers they need,” said one person close to GM. “In a GM bankruptcy, there won’t be very much fallout for suppliers except perhaps for suppliers of Saturn and Hummer.”
Those two brands will be shut if they are not sold. More suppliers could drop outside the key vendor pool if GM is pressed to cull its portfolio further, targeting brands such as Pontiac.
GM would have to demonstrate in court that its business would be better off, and could retain more value if it pays key bills.
A judge could also force GM to prove that individual suppliers would stop operating or shipping goods if they were not paid, rather than letting GM use the money as it sees fit.
The critical vendor legal doctrine can be “subject to abuse and unfairness”, one attorney said. Roughly two-thirds of GM’s suppliers also sell parts to Ford or Chrysler, and some may be able to absorb late or reduced payments.
“It’s a game of chicken,” one attorney said. “How do you figure out which suppliers really will stop supplying tomorrow and which won’t?”
ArvinMeritor Announces Annual Savings of $430 Million as Result of Aggressive Cost-Reduction Actions
Monday , April 13, 2009 08:18ET
TROY, Mich., April 13 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE: ARM) today announced that it has taken actions since October 2008 which will result in savings of approximately $430 million on an annual basis.
"The difficult conditions we continue to experience in our commercial and light vehicle markets has required us to take aggressive steps during the past six months to align our organization to the lower capacity levels," said Chip McClure, chairman, CEO and president. "Many of these actions have regrettably impacted our employees, but the ArvinMeritor leadership team is committed to successfully manage the company through the continuing economic turbulence. We identified and implemented these actions quickly and are pleased to report the savings are significant, which will help protect the long-term health of the company."
In the months of February and March, the company implemented initiatives - including the reduction of nearly 250 employees and other cost reduction actions - that will result in annual savings of $95 million, or $64 million in fiscal year 2009 which is incremental to the $335 million in savings the company announced during its first quarter earnings report on Feb. 5, 2009.
Since October, ArvinMeritor has announced the following cost-reduction actions:
-- Workforce reduction of more than 1,800 global employees
-- Plant-level furlough programs, including government supported programs
-- Announced the closure of two manufacturing facilities (Tilbury and
Milton, Ontario, Canada)
-- Pay reductions for salaried employees worldwide, which was achieved
through base salary adjustments and/or curtailed production schedules
-- Eliminated matching contribution to the U.S. 401-K
-- Suspended merit increases for fiscal year 2009
-- Reduced capital spending
-- Extended shutdowns at all plants
-- Eliminated company-paid education and training programs
-- Reduced contribution to the charitable trust
-- Suspended quarterly dividend
-- Reduced annual Board of Directors compensation by 10 percent
-- Eliminated all non-critical discretionary spending
"Through the implementation of these actions, our team continues to demonstrate their commitment to do what is necessary to respond aggressively to the current difficult economic conditions," said McClure.
UPDATE 1-US Treasury: GM, Chrysler supplier aid launched
Wed Apr 8, 2009 11:10am ED * Government bailout of auto suppliers launched * Interested suppliers should contact GM, Chrysler * Shares of parts suppliers advance
WASHINGTON/DETROIT, April 8 (Reuters) - The U.S. Treasury
said on Wednesday that General Motors Corp (GM.N) and Chrysler
LLC have launched supplier support programs backed by up to $5
billion in U.S. government funds. The news sent shares of major auto parts makers climbing,
with American Axle & Manufacturing Holdings Inc (AXL.N) up 5
percent and ArvinMeritor Inc (ARM.N) up 13 percent. The programs will guarantee receivables owed to the auto
parts suppliers for any good shipped after March 19. Suppliers
interested in participating in the support program should
contact GM and Chrysler, the Treasury said. "The U.S. Treasury Department is pleased that both GM and
Chrysler have moved quickly to launch supplier support
programs," Treasury spokeswoman Jenni Engebretsen said in a
statement. "These efforts, backed by U.S. Treasury resources, will
help stabilize the auto supply base and restore credit flows in
a critical sector that employs more than 500,000 American
workers across the country." The Treasury did not give details on the amount being tapped
by GM and Chrysler. Sources briefed on the program told Reuters on Tuesday that
suppliers deemed critical to GM's operations have been
allocated $2.1 billion to be distributed through GM under the
bailout program. The government will supply $2 billion and GM will put in
$100 million of its own money, under a requirement that any
participating automaker should provide 5 percent matching funds
to the government money, the sources said. Suppliers are required to pay 2 percent to secure a
government guarantee of the receivables they are owed. For a
higher payment of 3 percent, suppliers can opt for immediate
payment from the fund.
(Reporting by David Lawder and Soyoung Kim; Editing by James
Dalgleish and Matthew Lewis)
Obama to unveil auto aid plan by Tuesday
WASHINGTON, March 26 (Reuters) - President Barack Obama will unveil his administration's plans for aid to struggling U.S. automakers before leaving for a European trip on Tuesday, the White House said on Thursday.
"What the president said today and what he's maintained through the process is that America needs viable automobile manufacturers," White House spokesman Robert Gibbs told reporters. Obama said earlier on Thursday there would be announcements on automaker assistance over the next several days. (Reporting by Matt Spetalnick; Editing by Eric Walsh)
Auto task force may hold recommendations until next week
Gordon Trowbridge and David Shepardson / Detroit News Washington Bureau
WASHINGTON -- Sen. Carl Levin said Wednesday the Obama administration may not announce its next step in restructuring the auto industry until next week.
"We have an indication it's going to be within the next week," said Levin, D-Detroit. That could push an announcement beyond this week, when the administration's auto task force had been expected to lay out its path forward for General Motors Corp. and Chrysler LLC.
The automakers, as part of receiving $17.4 billion in government loans, are to show by March 31 that they have a plan that will make them viable.
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President Obama's auto task force plans to lay out some initial assessments of the automakers' likely fortunes, and may set deadlines for further progress and outline conditions for additional assistance.
GM and Chrysler have sought $21.6 billion in additional aid; the administration's top auto task force advisor, Steve Rattner, said last week that the two may need "considerably more" than that amount.
Levin said advisers to the task force have not briefed him on their recommendations, and he expects "a last shot" at them before they announce their findings.
Levin said he expects the task force to make more aid available to the companies, if they take specific steps toward restructuring.
"I think it's clear there will be more support, and there will be some conditionality to it," he said.
And Levin offered some advice, in the form of a warning, to GM bondholders who so far have resisted restructuring guidelines that call on them to forgive two-thirds of the company's debt and replace the rest with GM stock.
Rattner admonished bondholders to work harder to reach a debt restructuring agreement with GM, prompting an ad hoc committee representing many of GM's bondholders to fire back, saying they were being asked to sacrifice more than other stakeholders, including the United Auto Workers union.
Levin suggested the bondholders risk losing even more if they don't agree to a significant "haircut," or loss, on the debt they hold.
"I think they ought to take Rattner seriously," Levin said. "I think the bondholders recognize what the alternatives are: It's that they either take a haircut, or they take a bath. ... I hope they choose the haircut."
The task force created a $5 billion program from the Troubled Asset Recovery Program to help auto parts suppliers, but it may take further steps to help suppliers.
The task force is mulling other ideas, too, including backing proposals to stimulate auto sales, which have fallen to near record lows.
Deutsche Bank AG auto analyst Rod Lache said in a research note this week that auto sales could fall 43 percent in March, on sharply lower sales from GM and Chrysler.
That would reflect a sales rate of just 8.6 million vehicles. Last month's seasonally adjusted sales rate of 9.1 million vehicles was the lowest since 1981.
Michigan House considers bill that would speed up tax breaks for state's auto suppliers
Tim Martin, Associated Press Writer
Wednesday March 25, 2009, 5:30 pm EDT
LANSING, Mich. (AP) -- Struggling auto suppliers who need a quick infusion of cash and are already receiving state tax credits would get a lump-sum payment under a plan being considered by the Michigan House.
The proposal passed Wednesday by a House committee would give auto suppliers who already receive multiyear Michigan Economic Growth Authority tax credits all the money up front before 2011. In some cases, the credits now are provided over a decade or more.
The proposal is designed to give financially troubled auto suppliers a cash infusion and give them an incentive to consolidate their operations and preserve jobs in Michigan.
The proposal, which likely soon will come up for a vote on the House floor, would be limited so it could not cost the state more than $250 million. The bill itself does not provide a way to pay for the program, but House Speaker Andy Dillon said he is working with the state Treasury on a possible mechanism to avoid costing the state any general tax revenue. That mechanism could include a revenue bond that would be paid off with revenue from Michigan's main business tax.
"It'll pay for itself, in my mind," said Dillon, a Democrat from Wayne County's Redford Township. "I intend that we pay for this and not do damage to the general fund."
Auto suppliers are hurt by many of the same economic trends hammering auto assembly giants such as General Motors Corp. and Chrysler LLC. Dillon, along with Republican legislative leaders and Democratic Gov. Jennifer Granholm, have visited Washington to lobby for aid to suppliers.
Granholm spokeswoman Liz Boyd said the administration will work with lawmakers to come up with a way to pay for the proposal.
"Clearly, we want to help auto suppliers," Boyd said. "They are such an important part of the auto industry."
Senate Majority Leader Mike Bishop, a Republican from Rochester, plans to monitor the U.S. Treasury Department's plans to provide $5 billion in financing to troubled suppliers before jumping in at the state level.
"The federal government has announced a significant stimulus package for the suppliers so it may be prudent to see what the impact of that money is on the industry before the state weighs in," Bishop spokesman Matt Marsden said in an e-mailed statement. "This shouldn't indicate that we are unwilling to discuss this option or some variation if the federal relief falls short of the desired effect."
It’s a road-marker in time…eom
NO surprise...or news there. No concern to me.
ARM is one of the last auto parts supliers to receive the EXPECTED NOTIFICATION. LEA AXL TEN etc. already got notification.
2 and a half million shares traded yesterday with a strong close.
Dino
ArvinMeritor Notified by NYSE of Non-Compliance With a Listing Standard
Friday , March 20, 2009 16:30ET
TROY, Mich., March 20 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc. (NYSE: ARM) today announced that on March 17, 2009, the company was notified by the New York Stock Exchange, Inc. (the "NYSE") that it has fallen below NYSE's continued listing standard related to total market capitalization and stockholders' equity. The NYSE requires that the average market capitalization of a listed company not be less than $75 million over a consecutive 30 trading-day period, when, at the same time, stockholders' equity is less than $75 million.
On March 20, 2009, the company notified the NYSE of its intent to cure this deficiency and to submit a plan to the NYSE, within the required 45 day period, to demonstrate its ability to achieve compliance with the continued listing standards. Under NYSE rules, if the NYSE accepts ArvinMeritor's plan, the company has 18 months from the date of the NYSE notice to cure this deficiency before the NYSE initiates suspension and delisting procedures. If the company is not compliant by that date, its common stock will be subject to suspension and delisting by the NYSE.
Under the NYSE rules, ArvinMeritor's common stock will continue to be listed on the NYSE during the cure period, subject to compliance with other NYSE continued listing requirements.
ArvinMeritor's business operations, credit agreement and other debt obligations are not affected by this notification.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6219078
Driveline with 100,000 Miles Lubrication Interval
ArvinMeritor Introduces Meritor MXL(R) Driveline with 100,000 Miles Lubrication Interval
Thursday , March 19, 2009 10:00ET
LOUISVILLE, Ky., March 19 /PRNewswire-FirstCall/ -- ArvinMeritor, Inc (NYSE: ARM) today introduced the Meritor(R) MXL (Meritor Extended Lube), a new series of greaseable drivelines with 100,000-mile lubrication intervals and a three-year, 300,000-mile warranty in linehaul service. The product was designed for truck operators who seek reduced maintenance costs and a longer warranty.
The new driveline - with the same product ratings and application guidelines as the popular Meritor 17N, 176N and 18N series -- was announced here at the Mid-America Trucking Show.
The Meritor MXL will enter production this summer and be available on new trucks or able to retrofit using genuine parts from authorized Meritor aftermarket channels. The new driveline joins the RPL permanently-lubricated driveline in the Meritor family of driveline products for commercial vehicles.
"The MXL combines the simplicity and durability of the proven RN U-joint design with the premium sealing capability of the RPL permanently lubed product," said Joe Plomin, vice president - Truck business unit, ArvinMeritor. "We've set the bar higher for drivelines in terms of performance, ease of maintenance, and warranty coverage - all highly valued by the customers."
Extended Lubrication: A New Standard
An extended lubrication interval reduces maintenance costs and increases truck operators' uptime. At 100,000 miles, the MXL's lubrication interval is twice as long as other conventional, greaseable drivelines. It also aligns with recommended lubrication intervals of other chassis components in linehaul vocations.
With Meritor MXL, extended lubrication intervals become "the new standard in greaseable drivelines. This will help customers more effectively manage routine preventive maintenance and control expenses," offered Plomin.
The main and interaxle slip assemblies combine an advanced nitrile seal to keep contaminants out with a protective guard that resists road debris, increasing slip assembly operating life. The u-joint builds upon the proven high-strength Meritor RN series design. Its needle-bearing package with contoured ends minimize axial (side) loading, and the glass-reinforced nylon thrust washer prevents metal-to-metal contact, all of which result in greater reliability.
Interchangeable Driveline - Greater Flexibility
The MXL's RN Series yoke configurations are compatible with other industry standard yokes, making it completely interchangeable with most greaseable drivelines in linehaul use today. Truck operators may standardize on a single greaseable driveline regardless of vehicle make or model.
The product offering will be available with both easy service and full round yoke designs.
Zacks Analyst Blog is apparently talking about em
Zacks Analyst Blog Highlights: Cypress Biosciences, Forest Labs, ArvinMeritor, Apogee Enterprises and The Macerich Company
Wednesday, March 18, 2009 06:00ET
CHICAGO, Mar 18, 2009 (BUSINESS WIRE) -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Cypress Biosciences (NASDAQ: CYPB), Forest Labs (NYSE: FRX), ArvinMeritor (NYSE: ARM), Apogee Enterprises (NASDAQ: APOG) and The Macerich Company (NYSE: MAC).
ArvinMeritor Fair at $1 per Share
ArvinMeritor (NYSE: ARM) has a leading position in most of the markets it serves. The company is undergoing dramatic cost reductions through its profit improvement initiative Performance Plus. It is also expanding geographically and outsourcing to low-cost countries.
http://www.knobias.com/story.htm?eid=3.1.1062de33fa6d3a470278d8895dd2ac40407e7f2a2be1c4de9c2bfe8f3a25cdf7
Still has legs to go. Any news about Arvin getting cash from Government, and ARM is a 4 banger. IMHO
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